City of Irving Awards Financial Services Contract to Powerhouse Data Lcx LLC (May 2024)
City of IrvingCity · Irving, TX- Disclosed value
- Amount dependent upon annual qualifications; 50% property tax abatement on net new taxable value for up to ten years
- From agenda
- Approved
- May 15, 2024
- Renews
- Free account
The 30-second brief
The Irving City Council approved a Tax Abatement Agreement with Powerhouse Data LCX, LLC to support development of up to three large data center buildings at 111 Customer Way. The agreement provides a 50% property tax abatement on net new taxable value of improvements and business personal property for up to ten years, contingent on investment, construction, and occupancy milestones totaling at least $150 million in taxable value. The company must purchase and redevelop the former Neiman Marcus site and maintain operations and value thresholds for the duration of the term.
Powerhouse Data Lcx LLC holds this financial services contract with City of Irving. Its other public contracts on record include work for DALLAS COUNTY UTILITY & RECLAMATION DISTRICT.
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Contract details
- Contract type
- Financial Services
- Amount
- Amount dependent upon annual qualifications; 50% property tax abatement on net new taxable value for up to ten years
- Document date
- May 15, 2024
- Term
- Up to ten (10) consecutive years upon achievement of Minimum Qualifications; Agreement term eleven years after satisfaction of Minimum Threshold Eligibility Requirements
- Renews
- On record
- Vendor
- Powerhouse Data Lcx LLC
- Agency
- City of Irving
- Source document
- irving_city_council_budget_and_strategic_planning.pdf (Agenda)
Powerhouse Data Lcx LLC's other public contracts
More City of Irving contracts
Questions about this contract
Who was awarded the financial services contract by City of Irving?
Powerhouse Data Lcx LLC was awarded this financial services contract by City of Irving, as recorded on May 15, 2024. The contract value is Amount dependent upon annual qualifications; 50% property tax abatement on net new taxable value for up to ten years.
How much is the Powerhouse Data Lcx LLC contract with City of Irving worth?
The Powerhouse Data Lcx LLC contract with City of Irving is valued at Amount dependent upon annual qualifications; 50% property tax abatement on net new taxable value for up to ten years, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record.
Where was this contract approved?
This contract appears in irving_city_council_budget_and_strategic_planning.pdf (Agenda), dated May 15, 2024 from City of Irving. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Powerhouse Data Lcx LLC hold?
Powerhouse Data Lcx LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Irving currently buying?
Explore City of Irving's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.